IVA IP is recommending credit cards to me - grrr!

RuthnJasper

Hello,

I guess this is more of a rant than anything, put I thought I'd put it here as it relates to my IVA provider (DebtFreeDirect).

I've just received one of their e-mailings (checked it out and it's genuine, as opposed to spam) and it is a general recommendation for credit cards "to help me build up my credit score" - specifically Vanquis and Barclaycard Initial, both with APR rates of @ 39%. All well and good - except that I have 14 months left to go on my IVA.

I mean, I've heard of various inventive ways of sticking two fingers up to a person, or kicking someone when they're down - but this one's new even to me!



Hope everyone has a lovely bank holiday weekend! x :beer:

neil277

RuthnJasper wrote: »

Hello,

I guess this is more of a rant than anything, put I thought I'd put it here as it relates to my IVA provider (DebtFreeDirect).

I've just received one of their e-mailings (checked it out and it's genuine, as opposed to spam) and it is a general recommendation for credit cards "to help me build up my credit score" - specifically Vanquis and Barclaycard Initial, both with APR rates of @ 39%. All well and good - except that I have 14 months left to go on my IVA.

I mean, I've heard of various inventive ways of sticking two fingers up to a person, or kicking someone when they're down - but this one's new even to me!



Hope everyone has a lovely bank holiday weekend! x :beer:

Keep away you cannot have credit, be free from credit it's bad for your health

RuthnJasper

neil277 wrote: »

Keep away you cannot have credit, be free from credit it's bad for your health

Too right, Neil. Credit is the most intoxicating toxin ever!

After the IVA process and everything I will NEVER - EVER - flirt with credit cards again!

Cheers m'dear. x

FoggyBrain_2

To be fair, Ruth, when you have completed and tidied up your credit record, at the 6 year anniversary of IVA acceptance, your credit history will be blank .. emoty ... zilch. This is as bad as defaults and will make it impossible for even little things like changing mobile phone provider, getting some insurances on monthly premiums, renting a house, etc.

To some it is vital to rebuild a credit history and Vanquis is one way of doing it. Yes, the interest rate is high, but that is immaterial. The trick is to use the card for something you'd buy anyway .... petrol for instance .... and pay it off in full every month, so getting no interest charged and getting green ticks on your credit report.

RuthnJasper

FoggyBrain wrote: »

To be fair, Ruth, when you have completed and tidied up your credit record, at the 6 year anniversary of IVA acceptance, your credit history will be blank .. emoty ... zilch. This is as bad as defaults and will make it impossible for even little things like changing mobile phone provider, getting some insurances on monthly premiums, renting a house, etc.

To some it is vital to rebuild a credit history and Vanquis is one way of doing it. Yes, the interest rate is high, but that is immaterial. The trick is to use the card for something you'd buy anyway .... petrol for instance .... and pay it off in full every month, so getting no interest charged and getting green ticks on your credit report.

Fair enough Foggz. That DID occur to me - I think the email must've been intended for all those clients whose IVA would have come to an end by now, or very shortly - into which category I WOULD have fallen, were it not for the fact that I had an extra year tagged onto my agreement for having to reduce my payments a few years ago. Better heep an eye out in case they stop taking my direct debits in July, hehehe...

But thanks for the heads-up; I appreciate that.

FoggyBrain_2

No worries .... best of luck with the rest of your journey :0)

RuthnJasper

FoggyBrain wrote: »

No worries .... best of luck with the rest of your journey :0)

Thank you FoggyB - I really appreciate that. Every good wish to you too.

Keep smiling!